1130 102Nd St Bay Harbor Islands, FL 33154

This meticulously maintained multifamily property at 1130 102nd St, Bay Harbor Islands, FL 33154, presents a compelling investment opportunity. The 6-unit building, constructed in 1964, boasts a total of 6,966 square feet and sits on an expansive 11,250 square foot lot. The property comprises four spacious two-bedroom, two-bathroom units and two charming one-bedroom, one-bathroom units, each featuring large eat-in kitchens and private exterior concrete storage. Ten off-street parking spaces are available for residents. Recent upgrades include a complete electrical system overhaul and updated plumbing to meet city standards. The inviting pool area has undergone a significant renovation, with new marcite, pipes, pump, vacuum, alert system, drain, and ladder. Currently leased month-to-month, this property offers immediate rental income potential. Furthermore, the property's zoning allows for significant expansion. The current zoning permits the construction of up to 15 residential units or 66 lodging units, totaling over 39,000 square feet. Nine transferable development rights (TDRs) are included, and Bay Harbor Islands' zoning permits short-term leasing, further enhancing income potential. The asking price for this exceptional property is $4,500,000. This is a rare opportunity to acquire a well-maintained multifamily property with significant upside potential in a highly desirable location.